TUKWILA, Wash. - With a year of legwork behind it, BECU TrustCo. is poised to turn its marketing plans up a notch in an effortto woo new clients, particularly more of the 300,000 members from$4 billion Boeing Employees' Credit Union. Launched last April byBoeing Financial Services, the credit union's wholly-ownedsubsidiary, BECU Trust currently has 20 relationships and nearly$15 million in assets under management, said Bonnie Pladson,president of BECU Trust. The average account is roughly $540,000."This has been a very busy, very exciting and very hectic year,"Pladson said. "We're still trying to get the word out (but) we'reright on track." Of the firm's clients, nine initially did notbelong to the credit union, Pladson said. Four have since becomemembers. Still, while the firm is meeting its one-year projections,"securing new business, especially from credit union members hasbeen the biggest challenge - some still believe you have to be verywealthy or they will lose control if they turn their affairs overto us." To address those myths, the trust company started a seriesof quarterly seminars last fall tackling a number of topicsinvolving estate management. Pladson says one "popular" seminar -"Plan Ahead Before You're Dead" - drew more than 100 attendees, asothers had to be turned away at the door. For two hours, theaudience, consisting of mostly retirees, got a crash course inestate planning, living trusts, probates and other related issues."Our biggest complaint was we covered so much in a short amount oftime and it was difficult to talk to everyone's specific case,"Pladson said. "At that point, we asked them to come in and talkwith us." BECU Trust held four seminars last year including anotherlarge draw - "Your IRA: A Pot of Gold," in which a local estateplanning attorney was invited to discuss how one's retirement planincluding rolling the advantages of IRA rollovers could benefit aclient's personal situation. Pladson said in addition to holdingfour seminars each quarter, the trust company also plans to do moreinternal sessions at Boeing Company's offices. One of the firston-site sessions is scheduled for April when BECU Trust will hold aseminar on trust services 101 - what are they and what can they dofor potential clients. Another component of the trust company'smarketing blitz will involve deployment to the credit union's 30express centers. "We've seen investment representatives andretirement specialists (from the credit union and CUSO) givepresentations to Boeing employees and we want to be a part of thatcircuit too," Pladson said. Making that connection is crucialespecially with credit union members because breaking down barriersof misinformation involving trust services is still an ongoingbattle, Pladson pointed out. "There is still that stigma that youhave to be very wealthy to use trust services," she said. "Or, somebelieve that if they turn their affairs over to a trust company,they will lose control. We've been bumping up against this for thepast year." Pladson said some potential clients are also confusedabout how the fee process works. One advantage BECU Trust has overother competitors is "our fees are straightforward and upfront"compared to some advisors who don't show the fees right away, sheadded. "Don't believe that meetings with a representative is free,"she tells potential clients of the competitors. "Lots of people(tell us) they don't know what fees are being paid along the way"with other firms. BECU Trust will also step up its courting ofsmaller law firms. Pladson said the trust company has a goodrelationship with several attorneys here but they are stillgenerally considered an "unknown commodity." Each of the firm'strust representatives will be responsible for a certain number oflaw firms but the goal is "not to be all over the place." "So far,we've established relationships with several firms including acouple of trial attorneys who specialize in settlements involvingpersonal injuries," Pladson said. While BECU Trust is stilltargeting those with a minimum of $350,000 in investable assets,Pladson said credit union members that don't meet that thresholdwon't be turned away. Indeed, the firm's smallest account is$175,000. The firm's services are available to members outside ofWashington but they can't advertise in other states given itsstate-chartered status. Still, a number of clients live as far awayas Florida and recent inquiries have come from Arizona and Nevadaamong other states, Pladson said. Having gone through both aninternal and a state audit within weeks of each other in March -"we came out well" - Pladson said the goal for 2004 is securing newbusiness especially from credit union members. "It's been a goodfirst year," she said. "With any start-up, getting the word out isone of the biggest challenges but we're encouraged."[email protected]